Jim O'Callaghan
Ceist:120. Deputy Jim O'Callaghan asked the Minister for Finance the estimated first- and full-year cost of abolishing stamp duty for first time buyers. [40261/24]
Amharc ar fhreagraTuesday, 8 October 2024
Ceisteanna (120)
Freagraí scríofa
I am advised by Revenue that, based on stamp duty returns for 2023, the latest year for which fully analysed data are available, the estimated cost of abolishing stamp duty for first-time buyers is in the order of €55 million.
This estimate is arrived at by taking the stamp duty returns for residential property purchases made by persons identifying themselves as first-time buyers, and taking the associated tax liability as the potential cost of exempting them from the duty.
The Deputy may wish to note that this costing does not take into account the changes announced in Budget 2025 in respect of a new Stamp Duty rate on residential property valued above €1.5 million.